In China, a Big Bet on Smaller Borrowers: China Minsheng Banking is focusing on smaller borrowers, a choice that puts it at ground zero as the nation tries to overhaul its financial system. Skeptics say those clients will be hardest hit as China’s economy slows. (Free)

U.S., Asean Discuss South China Sea: U.S. and Asian defense ministers met on Wednesday to discuss initiatives aimed at reducing tensions in the South China Sea. (Subscriber Content)

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Samsonite Eyes Brands in China: Samsonite is on the lookout to buy Chinese and Asian brands and could spend up to $1 billion on acquisitions over the next two to three years, the luggage maker’s chairman said. (Subscriber Content)

New Zealand Says Fonterra’s Product Recall Unwarranted: A global recall of some Fonterra Cooperative Group dairy products earlier this year was unnecessary, New Zealand’s government said, because the products contained clostridium sporogenes, which poses no health risks, rather than a harmful organism. (Subscriber Content)

About China Real Time Report

China Real Time Report is a vital resource for an expanding global community trying to keep up with a country changing minute by minute. The site offers quick insight and sharp analysis from the wide network of Dow Jones reporters across Greater China, including Dow Jones Newswires’ specialists and The Wall Street Journal’s award-winning team. It also draws on the insights of commentators close to the hot topic of the day in law, policy, economics and culture. Its editors can be reached at chinarealtime@wsj.com.